UNLOCKING YOUR PEAK PERFORMANCE
In Part 1 of this feature on unleashing your potential, Dr John Demartini spoke about finding the key to success in property through examining your values. This month, we follow up with some investors and YPN team members talking about their values. Each reveals what is important to them deep down, what has driven them to achieve property success (clue: it’s rarely about the money!), and how they have aligned their “work” and investing tasks with their values to create a life that is meaningful, fulfilling and thoroughly enjoyable.
To begin with, executive coach Jo Simpson, who has worked with numerous executives and high-achieving investors, recaps on the importance of understanding your values and prioritising them – something you do constantly but often without even realising it. Not only is it important for aligning yourself with potential JV and business partners, but she explains how aligning with yourself, or in other words getting out of your own way, is even more crucial. Becoming aware of what is important and consequently why you do what you do, will make an enormous difference in your life. After all, it’s the key to your own success.
The Importance of Values in Property Investing
By Jo Simpson
Throughout her work as a professional coach over the last twelve years, Jo Simpson believes the key to personal and business success comes from being values-driven at your core.
“Your core values are at the heart of every Decision you ever make, every Relationship you encounter and every Goal you achieve, whether you are consciously aware of them or not and most people are not fully conscious of what their core values are. They might think they know and pick out core values such as Family, Integrity, Honesty and Respect and while these may well be core values, there is a need to go much deeper. Values are derived from the inside-out; we all have our own set with our own meaning and a different priority order. If we are not aware of this we project our values onto other people and on the flip side, don’t take the time to understand what is important to others, thus causing conflict. This is often why many joint ventures don’t work.”
Over the last six years, Jo has helped a lot of investors on Simon Zutshi’s Property Mastermind Programme to Discover, Define and Ignite™ their own core values. Many have said this has been the missing piece for them – what they initially thought was their ‘Reason Why’ turned out to be something completely different. Investors who have worked with Jo have changed their strategy to one more aligned to their values. “If you have values that relate to ‘connection with others’, don’t go it alone. Values are vital in joint ventures, so take the time to understand both party’s values – while you may seem aligned on the surface, if you go a bit deeper and ask “what does ‘honesty’ mean to you?” you may have completely different meanings; if one of the JV partners has a different priority order than the other, unless you have taken the time to understand this, it is likely conflict will arise at some point.
“One of the biggest challenges I have witnessed with property investors is having two of their own values that conflict each other internally and ultimately cause the investor to stagnate, not take action and in turn become increasingly frustrated and restless. As an example, if you have values of both ‘Freedom’ and ‘Security’ they can create a Conflict Loop. What happens is, you want Freedom and every time you move towards it, you almost take action … then your value of security kicks in and holds you back, causing this loop. This will continue to happen until you understand your priority order and take a courageous step to break out of the loop.”
From working with many executive coaching clients, Jo realised that being out of alignment with your core values leads to a sense of restlessness and disconnection. It was this work and her own journey that inspired Jo to write her book, which is written as a parable and takes the reader on a journey through the eyes of William Cleverley, who through Discovering, Defining and Igniting™ his core values, steps up as a more motivated, aligned and courageous leader, both personally and professionally.
The majority of Jo’s work is with senior leaders and teams in the corporate world.
“It’s amazing to see the difference in how relationships and trust are built, how communications improve and how motivated people become when they align to their core values and take the time to understand others in their teams.”
Executive Coach, Author of The Restless Executive – Reclaim your Values, Love what you Do and Lead with Purpose
Jo runs a public one-day Values Discovery Day. The next one takes place on 9th September ’16.
More details on her book can be found at www.therestlessexecutive.com.
WHAT INVESTORS SAY
Making a difference
Understanding your values, ie what is important to you and what motivates you is vital to being a successful investor. That’s why on our twelve-month Property Mastermind Programme, we arrange for Jo Simpson, one of the top UK experts on Values, to work with delegates to help them gain a deeper understanding and discover their own values.
Many have found that their values are not what they thought they were, sometimes changing direction to be more aligned with their values and as a result suddenly achieving the success they desire. If you want to work with other people in joint ventures, understanding not only your own values but theirs as well is important to make sure you are aligned – otherwise your joint venture will not work in the long run.
The reason I love what I do, is because helping others become successful investors meets my high priority values of creativity, making a difference and helping others. The specific way I teach my students to invest is to always look for the win/win, which fits with my highest value of integrity. I like to think these values are reflected in the ethos of the property investors network, but rather than enforcing my personal values on the network, we held a team event with all of the hosts where Jo helped us define and agree the pin meeting values of Sharing, Inspiration, Passion and Integrity.
Freedom to choose
My values have certainly shifted over the years. What I thought was important in the beginning of my property ‘career’ (such as financial independence and stability for the future, etc) has now shifted to spending more time with people I love and helping others as much as I can, as well as having time by myself.
For many years, my husband and I lived and breathed the philosophy of ‘delayed gratification’ because we just knew that investing our time, energy and resources on developing ourselves and securing our finances would eventually enable us to live the lifestyle of freedom we aspired to.
Now, we are in the privileged (if not very hard earned!) position of having the choice, time and freedom to do the things we love. My values now, you could say, are in concentrating on that which I love to do and which brings me the most joy, peace and fulfilment. Fortunately, property was always something I’d had an interest in and enjoyed working with. Aligning with that which you love to do is a crucial factor to success.
Understanding the bigger picture
Your values are essentially your reasons why you get out of bed in the morning, why you send those letters to the HMO list for the seventh time, and why you keep going when nothing seems to be happening. I’m just two years into my property education journey and The Values Factor (by Dr John Demartini) has helped me keep going by understanding why I’m doing what I’m doing, keeping me focused on specific values that are unique to me and my life.
For most people, values are usually considered global concepts like ‘family’, ‘health’, ‘financial freedom’, etc, but Dr Demartini asks you to get extremely specific and link them to your daily chores. Now, when I don’t feel like sending out yet another letter to my HMO list, I think of how I want to ‘take my mum on holiday’ or ‘buy my nan the latest hearing aid’.
I also love his quote “if you don’t go after challenges that inspire you, you’ll have to deal with challenges that don’t!” My chosen challenge is to replace my income within twelve months. What will yours be?
Freedom to do what I want, when I want
My top values are Freedom, Flexibility and Change. For almost as long as I can remember I’ve just wanted to be able to do whatever I wanted – whenever I wanted to do it. You can imagine that in my previous corporate accounting job these values weren’t a great fit. As a cog in the corporate wheel I was expected to work set hours and follow a set plan.
As a property investor and moving in entrepreneurial circles I’ve been able to really grow and have found my life falling into flow because I’m able to live according to my values. I’ve also found many more people with similar values and by building on these values I have been able to create a business that I love (using the Rent-to-Rent strategy). Our company also has a set of values that has allowed us to attract a strong team that believes in these values and helps us grow our company together.
Finally, it has been interesting that even though wealth or money aren’t in my top values I was still able to build a profitable business because I was focused on creating a life of freedom, flexibility and change and the wealth just falls out living by my values.
Enjoying life and making a positive contribution
Surveyor, Property Investor, YPN columnist, Author of The Property Triangle
For me, my values of determination to succeed are what get me up in the morning and ensure that I put my best efforts into what I do during the day. My end goal is to be able to reflect on a career that has been successful, thoroughly enjoyed and to have provided inspiration and example to others.
My values are principally wanting to enjoy what I am doing and to feel that I am making a positive contribution either to the client for whom I am working or for the industry as a whole. The money is secondary, it is a scorecard of success rather than the reason that I work.
Professional life is a continual learning process and I have always been keen to gain qualifications and to expand the service offering and knowledge that I provide to clients. This is hugely beneficial for self-development as well as personal fulfilment, and it is something that I heartily recommend to others. My desire to share my knowledge is evident in the training courses and public speaking engagements that I undertake and I believe it is important to give something back to an industry which has provided so well for me.
The vision of financial freedom is not really my driver. I work because I want to and I truly enjoy what I do. Perhaps if I reach the stage where I no longer enjoy what I do then I would want the financial security to be able to stop that work. I love my work and hope that day never comes!
Forward-looking and fiercely loyal
Investor, Developer, Director of YPN
This is a tough one for me. I’ve never really considered my values before and how they align with what I do “work wise”. Starting out it was all from a position of desperation. I had zero income and no savings so I had to make things work or I’d be going down the pan fast!
As my businesses have grown the desperation has thankfully disappeared and I’m now in the fortunate position that things are pretty good. I have a good income, I have equity and capital and I’m working towards a “plan” for the next five to ten years. But how aligned is that plan with my values? Yes I want to be able to spend time with my family but my kids are at school and any spontaneity has disappeared; so pretty much between the hours of 8am-4pm Monday–Friday I’m around to “work” on what I choose to work on.
I do know a couple of things about myself. I hate working with people that I don’t like and I am fiercely loyal to those I care about. So I guess I have aligned my “work” to fit alongside these values. I work with people that I like and who compliment my skill set. I have their back and I trust in them to have mine. I’m really goal focused – I don’t just drift along in life and so I tend to set goals and enjoy a massive sense of achievement when I hit them.
Maybe deep down I have some insecurity issues (most people who know me would look incredulous at this statement) as I do want to prove myself and my worth to the world (and myself).
I’m never entirely happy with my “lot”. I often feel there is room for improvement or growth. I think this gives me the drive to do more and be more.
I definitely feel that I never, ever want to go back to the corporate world of constraints where I am told where to be and when. I like the freedom that the life that I have created affords and I often struggle to understand why more people don’t strive for the same.
We all have the choice; we can all live this way if we choose to do so. From my experience it takes a colossal amount of work, a bit of luck and balls of steel / bravery to do it, but it’s possible for every single one of us to have more than enough time and money to appreciate life.
Being there for the people who matter
Investor, YPN Editor
Working out your values is quite an intense process. I discovered some time ago that my three highest values were having flexibility to be available for the people closest to me, independence and enjoying my work; then after listening to the audio version of The Values Factor and our conversation with Dr Demartini, I realised it might be time to repeat the exercise. This time, I found that although property investing per se is not among the top three values, my drive for flexibility and independence is enough to make sure it happens. The value of enjoying my work has often manifested through writing, studying, reading and communication so you could say I’m in my element.
Building wealth was, to my chagrin, lower down the list and that goes a long way to explaining why, despite having a reasonable rental income and decent ROI, creating capital and equity has been a tougher ride. As a result, I’ve moved wealth development to become a much higher value and (as a family) we’re making some big changes to shift our focus to different strategies in a more vibrant area than where we have been investing to date.
As The Other Half and I work together, each understanding the other’s individual values has been vital for making and committing to shared decisions.
YPN Says ...
It’s often said that to succeed in property you need a big reason WHY. That has become evident as few of the people we spoke to said that money, being a landlord or doing deals is what gets them out of bed in the morning.
Interesting to note is that freedom factors highly for several, as does a sense of autonomy over one’s own life and being able to contribute to the world in some way, whether close to home or further afield through business or other works.
Now, it’s time for you to work out what’s important enough in your life to propel you to succeed in property. That might be family, travelling, kicking out the boss… or maybe you really do hanker to be an awesome landlord. There’s no right or wrong. There’s just you and what matters enough for you to rise to your chosen challenge.